Neighbor’s House Back On Market today!!!! Arrrrggghhhhhh! This has never happened to me, have a house fall out twice. This time we had it sold to a lady who was going VA. We made it past the home inspection, then the VA inspection and finally it passed the VA appraisal last week. This morning we get a call from the buyers agent stating that her client was turned down by the VA underwriting for not having the last 3 years tax statements. What idiot mortgage broker writes someone a “Pre APPROVAL” letter w/o checking tax returns???? These things arent worth the paper they are written on in todays market. Supposedly he thought since she was putting 20% down it wouldn’t matter. Dear Mr Mortgage broker, this isnt 2005 buddy, buyers need to state their income these days! Between incompetent mortgage brokers and an overzealous home inspector claiming my brand new 30 year roof had a life expectancy of 20 years and my brand new 16 seer A/C is 2-3 years old, nothing seems to be going right on this deal. Oh yea, my brand new gas hot water heater is also 2-3 years old according to this brain surgeon. Over at the other house the plumbers are almost done, they are shooting for an inspection on Wednesday. Stay tuned for more drama.
This is where most investors throw their hands up and quit. I know you will not do the same, Tom. Hang in there. Its happening to all of us.
We never quit! After buyer couldnt qualify for VA last weekend she still wouldnt terminate contract and scrambled all week for alternative financing while a new buyer submitted a back up offer. Finally she backed out in writing yesterday, now we are working w/ back up clients and under contract again. Never a dull moment, hope your Kipling closing is going well.